Slaughter and May is advising Swire Pacific in relation to the proposed HK$39 billion recapitalisation of Cathay Pacific

Slaughter and May is advising Swire Pacific in relation to the proposed HK$39 billion recapitalisation of Cathay Pacific, which involves a proposed issue of preference shares and warrants, a proposed rights issue of shares and a proposed bridge loan facility. The preference shares and the warrants are proposed to be issued to, and the bridge loan is proposed to be made available by, Aviation 2020 Limited, which is wholly owned by the Financial Secretary Incorporated. 

The recapitalisation is proposed by Cathay Pacific in response to a series of unexpected events outside its control, including the outbreak of the global COVID-19 pandemic, which has created significant challenges for the airline industry.

Swire Pacific is the largest shareholder of Cathay Pacific holding 45.00% of its shares.

Hong Kong
Peter Brien Partner
Lisa Chung Partner
Jing Chen Partner
Vincent Chan Associate